Buy or Rent: Cheaper to Own in 80% of Big Cities

rent vs buy
rent vs buy

Attention, big-city dreamers: Consider your options before signing the lease on that slummy one-bedroom. Buying a home is now cheaper than renting in 80 percent of the largest U.S. cities, according to a recent survey.

Real estate website Trulia recently released its quarterly Rent vs. Buy Index, which compares the monthly cost of a two-bedroom apartment with median home list prices in 50 of the largest markets in the nation. The index is arranged into three categories: cities where owning is cheaper, cities where buying is cheaper, and cities where buying may be more expensive, but should be judged on a case-by-case basis.